VeChain has been trending on crypto social media since the VeChain summit 2019. This is because during the VeChain summit, the VeChain Foundation unveiled many exciting VeChain partnerships and even announced an upcoming VeChain ToolChain for developers. One of the VeChain news during the summit that disrupted the VeChain Thor price prediction was that professional services firm, Deloitte was going to abandon the Ethereum blockchain and develop services on VeChain. The company, at the time, said that it was ditching Ethereum because VeChain is faster and more efficient. After using the VeChain blockchain, the company took to LinkedIn to brag about the VeChain node levels claiming that it is faster than Bitcoin.
VeChain Thor Price Prediction – VeChain Node Levels – VeChain News – Deloitte Says VeChain Blockchain Is Better Than Bitcoin
Bitcoin, the first blockchain, uses a consensus mechanism known as proof-of-work. This is the same consensus mechanism that many other blockchains that were created after Bitcoin use. VeChain, however, uses another consensus mechanism known as proof-of-authority. Deloitte claims that the proof-of-authority consensus mechanism is better than the proof-of-work. Taking to LinkedIn, Cillian Leonowicz, an executive at Deloitte, said;
“We wrote more transactions than Bitcoin over the weekend by migrating our client work from Ethereum to VeChain – we managed to execute 20+ smart contract transactions per second.”
While the Bitcoin blockchain processed about 359,000 transactions over the weekend, VeChain processed 396,000. However, the total transaction value for Bitcoin is still way above the total for VeChain. This doesn’t mean that the milestone should be ignored. Over the last year, companies have been showing interest in less popular blockchains like VeChain. Deloitte is one of the “Big Four” professional services firms. It is the second one to build solutions on VeChain after PricewaterHouseCoopers. It’s only a matter of time until the other two companies, which have also developed interest in blockchain, build their solutions on VeChain as well.
VeChain News Today – VeChain Thor Price Prediction – VeChain Partnerships Will Pave A Way For A Brighter Future
During the VeChain summit, BMW also announced that it would be using the VeChain nodes for its VerifyCar app. With this app, auto fraud would be reduced significantly in Garmany. Other VeChain partnerships have also been sealed with more to come before before the year runs out. While many of these partnerships do not require the use of the VET coin, they will still help to promote the adoption of the VeChain blockchain and the VET token. This will eventually reflect on the VeChain Thor price prediction.
VeChain (VET) Price Today – VET / USD
| Name | Price |
|---|---|
 | $0.00 |
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At the time of writing, the VeChain Thor price was $0.006522. This means that it is up by 1.48% against the USD but down by 0.15% against the price of Bitcoin. The trading volume over a 24 hour period is $11,598,005 and the market capitalization is $361,679,147. VeChain has the potential to move above the $1 level this year with these VeChain partnerships and a positive market sentiment. Let’s not forget that VeChain is going to disrupt the $50 trillion supply chain space in the next few years. So, the VeChain Thor price prediction in bullish.
What do you think about the VeChain Thor price prediction in our VeChain news today? Are the VeChain node levels better than Bitcoin node levels? Share your thoughts in the comment section below.
Max writes about blockchain projects and regulation with a special focus on United States and China. He joined Smarterum after years of writing for various media outlets.
